【Ripple gets U.S. bank charter after 10 months; manages its own stablecoin reserves 🔥🏦】
Group chat: 🚀 加入X先生的粉丝群聊跟进行情
Ripple received final approval from the OCC on October 26. Its trust bank can now officially open for business. The new institution is called Ripple National Trust Bank. It will be directly overseen by the U.S. Office of the Comptroller of the Currency. From now on, Ripple will manage the reserves of $RLUSD itself. 🔥
On December 12 last year, Ripple received only conditional approval. It took another 10 months to complete the process. Five companies received conditional charters in the same round, including BitGo, Paxos, and Fidelity Digital Assets. Ripple was the first of the five to cross the finish line. 🏦
Ripple’s reserves will consist of just three types of assets: U.S. dollar deposits, U.S. Treasuries, and cash equivalents. The primary custodian is BNY Mellon. The issuer remains Standard Custody, which is regulated by the New York State Department of Financial Services. In my view, this is more substantial than just putting up a sign. 💰
RLUSD launched in December 2024, so it hasn’t even been around for two years. It’s already being used in Ripple’s payment business. This month, Standard Chartered’s Dubai branch began custodying RLUSD on-chain. A collateral test with LMAX is also in the pipeline. 🌍
CEO Brad Garlinghouse posted just two words that day: “Big news.” He said crypto and banking work better together. The announcement came a week before the Swell conference, as the GENIUS Act on stablecoins is still being implemented. 🏛
XRP is currently priced at $1.30, up 1.4% in 24 hours. Charter news usually doesn’t cause an immediate surge on the day it breaks. The market may take two or three days to digest it. I think the key thing to watch is the first batch of corporate clients after the bank opens. 💼
📌 Ripple has gained custody authority, not the right to print money. From now on, RLUSD’s reserves will be managed under U.S. banking supervision.
Do you think this is a turning point for stablecoin compliance, or just another narrative wave?
#Ripple获全面批准运营国家信托银行
Group chat: 🚀 加入X先生的粉丝群聊跟进行情
Ripple received final approval from the OCC on October 26. Its trust bank can now officially open for business. The new institution is called Ripple National Trust Bank. It will be directly overseen by the U.S. Office of the Comptroller of the Currency. From now on, Ripple will manage the reserves of $RLUSD itself. 🔥
On December 12 last year, Ripple received only conditional approval. It took another 10 months to complete the process. Five companies received conditional charters in the same round, including BitGo, Paxos, and Fidelity Digital Assets. Ripple was the first of the five to cross the finish line. 🏦
Ripple’s reserves will consist of just three types of assets: U.S. dollar deposits, U.S. Treasuries, and cash equivalents. The primary custodian is BNY Mellon. The issuer remains Standard Custody, which is regulated by the New York State Department of Financial Services. In my view, this is more substantial than just putting up a sign. 💰
RLUSD launched in December 2024, so it hasn’t even been around for two years. It’s already being used in Ripple’s payment business. This month, Standard Chartered’s Dubai branch began custodying RLUSD on-chain. A collateral test with LMAX is also in the pipeline. 🌍
CEO Brad Garlinghouse posted just two words that day: “Big news.” He said crypto and banking work better together. The announcement came a week before the Swell conference, as the GENIUS Act on stablecoins is still being implemented. 🏛
XRP is currently priced at $1.30, up 1.4% in 24 hours. Charter news usually doesn’t cause an immediate surge on the day it breaks. The market may take two or three days to digest it. I think the key thing to watch is the first batch of corporate clients after the bank opens. 💼
📌 Ripple has gained custody authority, not the right to print money. From now on, RLUSD’s reserves will be managed under U.S. banking supervision.
Do you think this is a turning point for stablecoin compliance, or just another narrative wave?
#Ripple获全面批准运营国家信托银行
